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Topic: Acronym of the moment (Read 415 times)

An acronym is a word created from the initial letters of a phrase or group of words. The world of crypto is full of acronyms, and I'll list some of them as I notice them in the Bitcoin Talk threads. Here is the first one -

FOMO - this means the 'fear of missing out'. It is particularly relevant as the price of Bitcoin keeps moving sideways, and it is obvious that it is steeling itself for a major breakout. Which way will it go? The charts seem to indicate that it is still in a bear trend, but there are some major financial events this weekend. The Bilderberg conference is one, and I hope we can get some reports from this. No doubt they will be discussiing the banking crisis, and the merger plans of the debt ridden banks. So do we buy Bitcoin now and risk falling off the cliff, or do we hold off and risk missing the 'hockey stick' rise.

It's inevitable Bitcoin will do both - that's just it's annoying uncontrollable nature. I reckon it'll slump again to about £4000 or maybe even 3000 before hiking back up to the near £20k it used to be and then probably slumping back down.

I wouldn't be surpised if the £20k wasn't reached next year as the price of bitcoin generally at least doubles about 8-12 months before the halving. that's just my thoughts though.

FUD - which stands for "fear, uncertainty and doubt". This is one way that the media is manipulated to bring down the price of Bitcoin. The false rumours are initiated by the big investors who hope to acquire more Bitcoin at a lower price.

HODL is another acronym created by a Bitcoin user. It means "Hold on for Dear Life", and it relects the policy of long term investors during a prolonged bear run ( price drop ).

The term was adopted after a Bitcoin Talk member made a disjointed post in an apparently drunken state. He misspelt the word "hold", and didn't correct the error. A few other members latched onto the mistype, and a new word was born.

DYOR is not some new digital dress designer, but it stands for "do your own research". The internet is awash with sites providing advice and statistical analysis. By the time you read some of the popular sites, you may have missed the boat, as there will be an army of readers who have already acted on the advice. The other risk is the the publisher of the advice may have a vested interest in the result, and he may have distorted the facts. Before investing, always do your own research to check the validity of the opinions you have read.

DCA or Dollar Cost Averaging is a technique used by long term investors to build an asset holding. It is almost impossible to determine exactly when the bottom of a drop has been reached. With DCA you spread the cost of acquisition over a period as the assets drops in price, and then subsequently starts to rise. Profit is calculated by taking the average price over the whole purchase period.

DIY is a very old established acronym. In fact DIY.com is the primary website of a major home improvements warehouse in the UK. They use this domain name in preference to their company name - B and Q )